return on that investmenand they will default on their loans is a big bubble thal pop and damage the economy. >> morgan, we are reaching the trillion dollar mark and as i said 90 percent of them are government and they don't do credit checks and this ease are dangerous loans. >> the whole system needs to be revamped. right now currently it is it the lesser of two evils. look at private loans for a second. they might do credit history checks and do variable interest checks if you depefault and repayments are more stringent and sally may is selling them off in slab loans that. is an issue. talk about the bubble beyond student loans, look at private loans. >> haven't we learned anything. we are suchering from the subprime housing crisis. we learned that nonchecked loans are dangero and now we have a trillion worth of these loans from students? >> no income, no job, no problem. we'll give you the loan. no income, and no job is what students are faced with. this is the problem. it is the universities and colleges that are gouging the middle class. they are charging a lot much money for degrees .